News
New RMD Tables Coming for 2022
The various life expectancy tables used to calculate required minimum distributions (RMDs) from qualified retirement plans, IRAs, and nonqualified annuities have been updated for 2022. These updates ...
Read MoreIMPORTANT: Child Tax Credit letters
If you received any advance Child Tax Credit payments in 2021, keep your eye out for a letter from the IRS in January 2022. This notice, “Letter 6419 Child Tax Credit,” will provide the total amount ...
Read MoreNew IRS Regulations for 2022
The IRS has recently released updated regulations regarding the contribution and plan limits for retirement plans and cafeteria plans for 2022.
The following are Retirement Plan Limits and ...
Read More2021 Work Opportunity Tax Credit
A valuable tax credit is available to certified businesses that hire long-term unemployment recipients and other groups facing significant barriers to employment. The Work Opportunity Tax Credit ...
Read MoreSocial Security Benefits Increase for 2022
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. The 5.9 percent cost-of-living adjustment (COLA) will begin ...
Read MoreRepayment of Deferred Social Security Taxes
The IRS is currently sending informational-only CP256V Notices to self-employed individuals and household employers that chose to defer paying certain Social Security taxes under the CARES Act. The ...
Read MoreCOVID-19 Economic Injury Disaster Loan (EIDL)
In response to COVID-19, small business owners, including agricultural businesses and nonprofit organizations, in all U.S. states, Washington D.C., and territories, can apply for the COVID-19 Economic ...
Read More$25.5 Billion in “Phase 4” COVID-19 Provider Funding
Announced in September, the latest installment of COVID-19 relief includes $17 billion for health care providers (including dentists) under the Provider Relief Fund (PRF), and $8.5 billion more under ...
Read More3rd Quarter Estimated Tax Due 9/15
September 15, 2021, is the deadline for third quarter estimated tax payments. This generally applies to people who are self-employed and some investors, retirees and those who may not normally have ...
Read MoreStoring Your Important Estate Documents
While perhaps not the most pleasant topic to think about, your estate planning should not be forgotten. After someone passes away, their spouse, child(ren), and/or other trusted individuals need to ...
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